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Hackers Stole About $32M in Ethereum Tokens This Week
FinTech
Hackers stole more than 150,000 ethereum tokens on Wednesday, worth about $32 million, CNBC reports. The theft included 44,055 tokens taken from Swarm City, a decentralized commerce platform. Matthew Carano, a communications officer for Swarm City, addressed the cyber crime in a blog post on Wednesday. At approximately 12:30 PM ET Bernd Lapp, Business Hive leader noticed that the entire contents
4 Life Insurance Startups Asking Millennials to Face Their Mortality
Lifestyle
Nineteen million Americans are interested in buying life insurance, but have gotten stuck somewhere in the process. Clunky forms, fine-print PDFs, inconvenient medical exams, seemingly high costs—the list of headaches is long and frustrating. Perhaps as a result, the individual life insurance market has been roughly flat in the U.S. for over a decade, with total premiums landing around $120 billion each year,
Fund Managers Set to Pay Fortune in Back Taxes
Hedge Funds
Top hedge-fund managers including Steven Cohen and David Einhorn will be taxed on offshore gains, leading to potentially billions in back taxes between the fund managers, reports The Wall Street Journal. For years, managers of hedge-funds have held offshore accounts that accumulated untaxed gains. The government is now coming for those earnings. Steven Cohen, the founder of SAC Capital Advisors
These Non-Tech Companies Are Investing in an AI Future
Capital Markets
Artificial intelligence is not just a casual interest of the tech industry. It’s a universal imperative. “In ten years, every company will have to be an artificial intelligence company or they won’t be competitive,” Loup Ventures Managing Partner Doug Clinton wrote in a Thursday note. "Every company," he emphasized, noting disruptions span energy and transportation, food and finance, retail and health.
China Surprises
The Chinese economy delivered many surprises in the first half of the year, disappointing (yet again) the pundits who predicted a hard landing. Macroeconomic data published over the weekend is consistent with a healthy economy, driven by impressive wage growth and consumer spending, and supported by strong earnings growth. This issue of Sinology reviews those surprises and looks ahead to
Bitcoin Surges as Divided Developer Factions Near a Truce
FinTech
Bitcoin surged more than 15 percent on Thursday to its highest level in four weeks after digital currency developers indicated they've neared an agreement that would avoid splitting the cryptocurrency in two, as CNBC reports. The two factions of digital currency developers have been split on the issue of scaling the coin between those who want bitcoin to be more
Mueller Includes Trump’s Business Dealing in Expanded Probe
The investigation that was initially set up to probe Russia’s involvement with the 2016 election has now expanded to include President Trump’s business transactions, as well as those of his associates, a person familiar with the probe told Bloomberg. Special Counsel Robert Mueller expanded the probe, enforcing a no stone unturned policy for potentially relevant records and filings. This is
Elon Musk Says He's Got a 'Verbal' Govt Thumbs Up For Awesome Hyperloop Dream
Lifestyle
Elon Musk announced on Twitter that he's gotten "verbal government approval" to build a badass underground Hyperloop transit network that will connect New York City, Philadelphia, Baltimore and Washington, D.C. to each other - and to a more awesome future, as TechCrunch reports. The Hyperloop transit system is being designed by Musk's The Boring Company and will connect "each city
Alphabet Asks Judge for Uber Investor Letter Prompting Kalanick Resignation
Google’s parent company Alphabet is requesting for a Judge to get Uber to hand over a letter from key investors that asked former CEO Travis Kalanick to resign, reports Recode. The motive for the request is Alphabet’s claim that Anthony Levandowski, a former executive that moved from Alphabet to Uber, stole 14,000 proprietary files from Alphabet. The tech giant believes
3 Most Popular ETFs to Short to Hedge Your Bullish Bets
  The more aggressive an investor’s bullish stock positions are, the more cognizant they must be of risk management. With the stock market within a stone’s throw of all-time highs, bullish investors are right to be a bit uncomfortable about going all-in on the stock market. One of the most popular ways to protect a stock portfolio from a broad-market